Topic: Bitcoin as Zimbabwe's official currency + Prince of Sealand interest in bitcoin - page 3. (Read 7626 times)
April 17, 2013, 08:05:46 AM
It's a fake to make you to buy more bitcoins.
April 17, 2013, 08:02:55 AM
The Sealand story is more credible though, as that's a really tiny sovereign country (smallest on Earth?) and its prince seems to be tech-savvy. (they attempted to make Sealand a data haven, for ex.). But still, I wouldn't hold my breath. Let's see.
Interesting link: http://www.sealandgov.org/title-pack/lordladybaronbaroness
It seems that you can buy a title for £29.99. Nice
April 17, 2013, 07:41:52 AM
sealand is within uk territory now after they extended what is brithis (ie not international waters any more), i would think that platform is uk territory ?
April 17, 2013, 07:41:43 AM
Until I read news like this at a website that doesn't have "bitcoin" in it's name, I'm not going to believe anything like this.
Zimbabwe dosn't have a currency it collapsed they use euro usd etc, bitcoin is a global currency its has official status everywhere
April 17, 2013, 07:26:26 AM
Until I read news like this at a website that doesn't have "bitcoin" in it's name, I'm not going to believe anything like this.
April 17, 2013, 07:06:56 AM
I don't think it will work for any country to implement bitcoins as the official currency. The deflation would take away all the export gains of the country and isolate the whole country.
could you just run through this process a bit better it seems as though any deflation you mention would be greatly offset by purchasing power
also the country would be able to implement regulatory controls aswell
April 17, 2013, 04:22:54 AM
I don't think it will work for any country to implement bitcoins as the official currency. The deflation would take away all the export gains of the country and isolate the whole country.
April 17, 2013, 03:34:43 AM
I still dont know how people living there can use bitcoin to purchase food? Bitcoin Credit card?
I don't think they can, as of today.
If this was for real - I don't think it is - then eventually the means would show up. Physical representations of BTC could be used, although they should be discouraged due to counterpart or counterfeit risks.
Something like Coinapult SMS wallet could work well too. SMS payments thrive in Kenya, I've heard.
Of all nations on Earth, I doubt there's anyone more used with price instability than Zimbabwe. So that shouldn't be as big a problem to them as it would be to others, even because with BTC prices would be mostly falling, making them richer, not the opposite they're are used to.
tl;dr: It would be great for them to do it.
I just don't believe it's going to happen.
April 17, 2013, 03:33:03 AM
I think i read somewhere that digital cash is already very popular in Africa and that they do most payments with their cellphone. Not sure though. As for the Zimbabwe story, sounds more like a joke to me.
April 17, 2013, 03:17:45 AM
I still dont know how people living there can use bitcoin to purchase food? Bitcoin Credit card?
April 17, 2013, 03:15:47 AM
Zimbabwe is not that small. Its M1 is $12G according to the CIA. That's much more than Bitcoin's monetary base has ever been, even during its all time high. I have a hard time believing this.
The Sealand story is more credible though, as that's a really tiny sovereign country (smallest on Earth?) and its prince seems to be tech-savvy. (they attempted to make Sealand a data haven, for ex.). But still, I wouldn't hold my breath. Let's see.
The Sealand story is more credible though, as that's a really tiny sovereign country (smallest on Earth?) and its prince seems to be tech-savvy. (they attempted to make Sealand a data haven, for ex.). But still, I wouldn't hold my breath. Let's see.
April 17, 2013, 03:04:12 AM
That sounds great but is it real or a joke ?
Would they use Casascius coins in the everyday life ?
I am very surprised.
It could be like the Euro for small nations. On one side to have the bitcoin symbol on the other side a national symbol.
Would they use Casascius coins in the everyday life ?
I am very surprised.
It could be like the Euro for small nations. On one side to have the bitcoin symbol on the other side a national symbol.
April 17, 2013, 02:51:53 AM
http://www.bitcoinrumors.com/2013/04/17/prince-of-sealand-mentions-interest-in-bitcoin/
http://www.bitcoinrumors.com/2013/04/17/zimbabwe-officially-approves-bitcoins-as-official-national-currency/
News about new official currency for Zimbabwe sounds very interesting but not much information provided yet. If you know anything more, please comment.
http://www.bitcoinrumors.com/2013/04/17/zimbabwe-officially-approves-bitcoins-as-official-national-currency/
News about new official currency for Zimbabwe sounds very interesting but not much information provided yet. If you know anything more, please comment.
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